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' • LAND USE APPLICATION ESC�j OL�A°` REEMENT <br /> Application# IiP - J '1 <br /> AGREEMENT made this Ile day of.Ltrvt/f; 20 S by, and between the CITY OF <br /> ORONO, a Minnesota municipal corporation ("City") and t LIiAj .( r 1-1T I�y R 4c_/vl.SI) <br /> [a corporation—optional] ("Owners"). <br /> Recitalsci <br /> pp <br /> 1. Owners have filed Zoning Application# Ie - 1 formally requesting the City to <br /> review plans for a <br /> located at the property addressed: '3 1$$ INoc-n Slwte_ L P:\N)e en*ro SSA% <br /> (the"Subject Property") legally described as <br /> 2. Owners request the City to review said plans which requires City approval and may require <br /> consulting legal and/or engineering review. <br /> 3. The City is willing to commence its review of the application and incur costs associated with said <br /> review only if the Owners establish an escrow to ensure reimbursement to the City of its costs. <br /> NOW THEREFORE,THE PARTIES AGREE AS FOLLOWS: <br /> 1. DEPOSIT OF ESCROW FUNDS. Contemporaneously with the execution of this Escrow <br /> Agreement, the Owners shall deposit $WOO ' with the City. All accrued interest, if any, shall be paid to the <br /> City to reimburse the City for its cost in administering the escrow account. <br /> 2. PURPOSE OF ESCROW. The purpose of the escrow is to guarantee reimbursement to the City <br /> for all out-of-pocket costs the City has incurred (including planning, engineering, or legal consultant review) or will <br /> incur in meeting with the Owners, reviewing the plans, and preparing agenda packet material for City Council <br /> review of application # ( -P - Cl . Eligible expenses shall be consistent with expenses the Owners <br /> would be responsible for under a land use application. <br /> 3. MONTHLY BILLING. As the City receives consultant bills for incurred costs, the City will in turn <br /> send a bill to the Owners. Owners shall be responsible for payment to the City within 30 days of the Owners' <br /> receipt of bill. <br /> 4. DISBURSEMENT FROM ESCROW ACCOUNT. In the event that the Owners do not make <br /> payment to the City within the timeframe outlined in #3 above, shall cease all reviews until the Owners pay all <br /> expenses invoiced pursuant to #3. The City may draw from the escrow account without further approval of the <br /> Owners to reimburse the City for eligible expenses the City has incurred. <br /> 5. CLOSING ESCROW. The Balance on deposit in the escrow, if any, shall be returned to the <br /> Owners when all requirements related to the project are complete. City Staff shall review the terms of this escrow <br /> agreement two times per year to determine whether the requirements of the project have been successfully <br /> completed and whether it is appropriate to return the funds. Owner may also request the release of the funds, <br /> and such funds shall be released upon City Staff receiving the appropriate verification that all requirements of the <br /> project have been successfully completed. <br /> 6. CERTIFY UNPAID CHARGES. If the project is abandoned by Owners, or if the eligible expenses <br /> incurred by the City exceed the amount in escrow, the City shall have the right to certify the unpaid balance to the <br /> subject property pursuant to Minn. Stat. §§415.01 and 366.012. <br /> CITY: CITY OF ORONO OWNERS: <br /> By: 41 All .:�' By: 1411: - , ` S • I /3511,0,4 <br /> i J <br /> Its: / ' �;. �' It •d—AL = <br /> internal Use Only: 9 Original to Finance Department a Copy to Zoning File G Copyto Street File <br /> Packet Last Updated: January 2015 <br /> Page 10 <br />